India witnessed 4-year high unemployment rate during demonetisation, claims govt data

A recent report released by the Labour Bureau shows that unemployment in Indi rose to a four-year high of 3.9 per cent in 2016-17.

New Delhi: A recent report released by the Labour Bureau shows that unemployment in Indi rose to a four-year high of 3.9 per cent in 2016-17, the year when Prime Minister Narendra Modi-led Central government announced demonetisation of old currency notes. As per bureau’s sixth annual Employment-Unemployment survey, unemployment rate in the previous year 2015-16 stood at 3.7 per cent and 3.4 per cent during 2013-14. According to a report by Business Standard, the higher unemployment rate which refers to the proportion of India’s labour force that is available for work but could not get a job somehow coincided with an increase in the labour participation force rate.

It is said the unemployment survey has been approved by the Labour and Employment minister Santosh Kumar Gangwar but has not been made public yet. However, the rate was higher in the Congress government during the year 2012-13 at 4 per cent.

Another report by Centre for Monitoring Indian Economy (CMIE) states that the estimated unemployment rate shot to a 27-month high of 7.38 per cent in December 2018 and numbers of those employed fell by 1.09 crore over the last 12 months, Indian Express reported.

This report was compiled after the participation of as many as 1, 58, 000 households which further claims that not only the unemployment in India has increased but also the labour participation has come down.

While the unemployment rate in December 2018 went up to 7.38 per cent from 6.62 per cent in the previous month, it was 4.78 per cent in December 2017. However, this is also the highest unemployment rate since September 2016 when it was recorded at 8.46 per cent, the national daily reported.

Citing the report, Congress party attacked the Bharatiya Janata Party (BJP)-led Central government for rising unemployment in the country. Congress Spokesperson Manish Tewari had even alleged that the BJP-led NDA government failed to fulfil its promise of providing two crore jobs every year and the country lost one crore jobs instead.

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